Global Geocomposites Market was valued US$ XX Mn in 2018 and is expected to reach US$ XX Mn by 2026, at CAGR of 11.09% during forecast period.
The major drivers of the global geocomposites are market increase in infrastructure with supportive government policies, environmental protection regulations, and cost-effective solutions. Expansion in the infrastructure and construction industry and wide usage of global geocomposite market materials in road and rail development projects are driving the global geocomposites market across. An increase in the number of water containments and canaling is also one of the key factors boosting the global geocomposites market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis
The rise in demand for waste treatment coupled with the increase in usage of geocomposites in waste treatment is expected to propel the demand for geocomposites shortly. Absence of quality control in various applications like road & highway, landfill, and soil reinforcement in developing countries is the major restraint of the market. Growth in infrastructure in developing countries is providing lucrative opportunities for the global geocomposites market. Fluctuation in prices of raw materials is hampering the global geocomposites market.
On the basis of the Application segment, the major application of geocomposites is in road & highway. Road & highway is expected to be the fastest-growing application of the global geocomposites market. Geocomposites find wide applications because of its properties like high tensile strength, easy installation, durability, and cost-effectiveness.
Based on the Function segment, Drainage is the leading function of the global geocomposites market used in civil & road construction, pavement base course or edge drains, trench drains, tunnel in railways and roads, retaining walls and bridge abutments, rooftop, and other applications.
In terms of region, APAC is estimated to hold the largest market share during the forecast period. The continuous rise in construction projects in developing economies like China and India has resulted in a high demand for geocomposites products in the region. The growth and innovations in the Chinese construction & infrastructure industry are estimated to generate a positive impact on the global geocomposites market in the country. Also, the initiatives taken by the government in building new highways is expected to further increase the demand for geocomposites in the construction projects of the country. All these factors make APAC the fastest-growing global geocomposites market.
The report includes the segmentation of the global geocomposites market based on product type, function, application, and region. Porter’s Five Forces analysis and key market dynamics like restraints, drivers, challenges, and opportunities influencing the growth of the global geocomposites market have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the global geocomposites market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global geocomposites market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the modest analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global geocomposites market.
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Scope of the Global Geocomposites Market
Global Geocomposites Market, By Product Type
• Geotextile-Geonet Geocomposites
• Geotextile–Geocore Geocomposites
• Geotextile–Geogrid Geocomposites
• Geotextile–Geomembrane Geocomposites
Global Geocomposites Market, By Function
Global Geocomposites Market, By Application
• Water & Wastewater Management
• Road & Highway
• Landfill & Mining
• Soil Reinforcement for Civil Construction
Global Geocomposites Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
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